Zacks Investment Research upgraded shares of Berry Petroleum (NASDAQ:BRY) from a strong sell rating to a hold rating in a report released on Monday morning.
According to Zacks, “Berry Petroleum Corporation is an energy company. It engaged in the acquisition, exploration, development and production of domestic oil and natural gas reserves primarily located in the San Joaquin Basin in California, the Uinta Basin in Utah, the Piceance Basin in Colorado and the East Texas Basin in Texas. Berry Petroleum Corporation is based in Bakersfield, CA. “
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Other equities research analysts have also issued reports about the stock. Piper Jaffray Companies restated a buy rating and issued a $12.00 price objective on shares of Berry Petroleum in a report on Wednesday, January 30th. BMO Capital Markets reiterated a buy rating and set a $13.00 price target on shares of Berry Petroleum in a report on Monday, January 7th. Capital One Financial lowered shares of Berry Petroleum from an overweight rating to an equal weight rating in a report on Thursday, December 20th. Finally, KeyCorp assumed coverage on shares of Berry Petroleum in a report on Thursday, December 20th. They set a sector weight rating for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $17.50.
Shares of BRY opened at $11.61 on Monday. The company has a quick ratio of 0.71, a current ratio of 1.59 and a debt-to-equity ratio of 0.39. Berry Petroleum has a fifty-two week low of $7.87 and a fifty-two week high of $18.55.
Berry Petroleum (NASDAQ:BRY) last announced its quarterly earnings data on Wednesday, March 6th. The energy company reported $0.41 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.41. The business had revenue of $280.35 million during the quarter, compared to the consensus estimate of $157.20 million. As a group, equities analysts predict that Berry Petroleum will post 1.45 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 15th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.48 dividend on an annualized basis and a yield of 4.13%. Berry Petroleum’s dividend payout ratio is currently 38.10%.
A number of large investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in Berry Petroleum by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 228,827 shares of the energy company’s stock valued at $2,002,000 after buying an additional 21,612 shares during the last quarter. FMR LLC raised its holdings in Berry Petroleum by 61.1% during the 4th quarter. FMR LLC now owns 7,871,163 shares of the energy company’s stock valued at $68,874,000 after buying an additional 2,985,746 shares during the last quarter. Macquarie Group Ltd. raised its holdings in Berry Petroleum by 2.7% during the 4th quarter. Macquarie Group Ltd. now owns 61,797 shares of the energy company’s stock valued at $541,000 after buying an additional 1,607 shares during the last quarter. Venor Capital Management LP raised its holdings in Berry Petroleum by 10.3% during the 4th quarter. Venor Capital Management LP now owns 3,412,702 shares of the energy company’s stock valued at $29,861,000 after buying an additional 318,861 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Berry Petroleum during the 4th quarter valued at $270,000. Institutional investors own 81.77% of the company’s stock.
Berry Petroleum Company Profile
Berry Petroleum Company, LLC., formerly Berry Petroleum Company, is an independent energy company. The Company is engaged in the production, development, exploitation, and acquisition of oil and natural gas. The Company’s principal reserves and producing properties are located in California (South Midway-Sunset (SMWSS)-Steam Floods, North Midway-Sunset (NMWSS)-Diatomite, NMWSS-New Steam Floods, Texas (Permian and E.
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